Tag Archives: Amadeus

Amadeus has recently announced its B2B Wallet Prepaid product for the travel agents. To this end, Amadeus is partnering with MasterCard to offer travel agencies payment acceptance and security around the globe, as well as better protection against supplier default when using B2B Wallet. Amadeus’ solution will build on MasterCard’s vast global network to expand virtual B2B payments in travel. Amadeus is also partnering with Ixaris to drive efficient virtual card management on B2B Wallet. With its innovative payments technology, Ixaris allows travel agents to easily create and add funds to their virtual payment cards. “Virtual card technology is the ideal application of Fintech innovation for the travel industry. By combining the strengths of Amadeus, MasterCard and Ixaris, we bring flexibility, efficiency and confidence to travel agent B2B payments. Since we launched the product in some markets in February we have seen overwhelming demand for it and today have customers in 10 European countries,” said Celia Pereiro, Head-Travel Payments, Amadeus. The Amadeus B2B Wallet will be gradually rolled out in select Asia Pacific markets in 2017 to bring travel agencies a virtual payments product with the option of either earning or saving cash when paying travel providers. Hany Fam, President, MasterCard Enterprise Partnerships, says, “With our global acceptance, advanced security and automatic consolidation, Amadeus B2B Wallet gives travel agencies a host of reasons to leave cash, checks and other payment mechanisms behind, saving time and money.”

India’s luxury market’s compound annual growth rate (CAGR) of 13 per cent is higher than any of the other BRIC nations, and is the highest of the 25 countries explored in a recent Amadeus report called Shaping the Future of Luxury Travel. This report looks at luxury travel trends until 2025 to help the travel industry better target and service its fastest-growing segment. The report was commissioned by global travel technology provider, Amadeus, and developed with data from Tourism Economics and with dozens of expert interviews with global luxury travel experts across specialist travel concierge agencies, airlines, hoteliers and intermediary suppliers through Connections, a global networking event organiser for luxury travel providers. Global consumers are increasingly spending their disposable income on experiences rather than material goods. Consumers’ desire for life experiences is spurring a growth in luxury travel that is outpacing the rest of the travel industry, finds a new Amadeus report featuring data from Tourism Economics. Between 2011 and 2015, luxury travel, in terms of outbound flights on business or first class, saw a 4.5% compound annual growth rate (CAGR), versus 4.2% for overall travel. This trend will continue to accelerate over the next ten years, with luxury travel trips projected to grow at a CAGR of 6.2% between 2015 and 2025, almost a third faster than overall travel at 4.8%. This trend is good news for the luxury travel sector. The report, Shaping the Future of Luxury Travel, reveals the fresh challenges and opportunities that the luxury travel market will face over the next decade.Some key findings from the report include: North America and Western Europe account for 64% of global outbound luxury trips, despite only making up …